The Existence of Equilibrium Paths in an AK-model with Endogenous Time Preferences and Borrowing Constraints
No 2013/01, EUSP Department of Economics Working Paper Series from European University at St. Petersburg, Department of Economics
An AK-model with borrowing constraints and endogenous time preferences is considered. It is assumed that the discount factor of a household is a continuous function of its relative income. We propose a definition of an equilibrium path and prove its existence.
Keywords: AK-model; endogenous time preferences (search for similar items in EconPapers)
JEL-codes: D90 O41 (search for similar items in EconPapers)
Pages: 24 pages
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Persistent link: https://EconPapers.repec.org/RePEc:eus:wpaper:ec2013_01
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